The number of homes changing hands in the Kootenay-Boundary in March was up over February, but down 43.4 per cent compared to March 2022.
In a news release, the Association of Interior Realtors said 189 sales were recorded in the region last month compared to 168 sold in February.
There were 403 new listings in March, down 18.4 per cent compared to the same month last year. But active listings in the Kootenay/Boundary saw a 35.6 per cent increase compared to March 2022 with 1,035 listings overall.
“Sales have been picking up since December 2022, and the Kootenay-Boundary has sold more units than the previous month for the third month in a row,” said president Lyndi Cruickshank. “This is a very healthy start to the busy spring season and a sign of heading into a balanced market.”
Cruickshank said spring usually sees a surge in market activity.
The benchmark price, which realtors say is a better representation of value compared to the average or median price as it represents a dwelling of “typical attributes,” saw percentage increases across all home categories in the Kootenay region compared to March 2022,.
The highest percentage increase occurring within the townhome category; up 7.8 per cent and coming in at $493,300. The benchmark price for a single-family home was $490,700, up one per cent, and for condos it was $278,400, up 0.4 per cent.